Croatia
Home values decreased 5.2 percent from 2011 to 2012.
Croatians experienced a mortgage spike of 13.3 percent between 2000 and 2010. Then prices of most homes dropped an average of 10 percent by the end of 2012.
Denmark
Home values decreased 5.4 percent from 2011 to 2012.
Reports found that the housing market in Denmark dropped by 25 percent since its peak in 2007, and that home values will probably continue to decline.
Hungary
Home values decreased 5.7 percent from 2011 to 2012.
In 2003, Hungary was experiencing a boom of housing market transactions (approximately 270,000) but by 2011 that number dropped to just 90,000. Considering inflation, home values plummeted 30 percent between 2008 and 2011.
Cyprus
Home values decreased 5.9 percent from 2011 to 2012.
Between 2008 and 2011 alone, home values dropped by 12 percent. In addition, housing market transactions fell from more than 21,000 in 2007 to 7,018 in 2011.
Portugal
Home values decreased 7 percent from 2011 to 2012.
Portugal is home to the once-popular Western Algarve region, but even there, home values have dropped 20 percent since their 2007 peak. Should Swiss buyers purchase a Portuguese home, they’d find the strength of the franc would get them a 35 percent discount.
Netherlands
Home values decreased 7.9 percent from 2011 to 2012.
The Netherlands is home to 17 million people living on land the size of New Hampshire and Vermont. This makes housing availability tight, and forces lenders to loosen their standards on mortgage loans.
Romania
Home values decreased 8.9 percent from 2011 to 2012.
New office real estate prices dropped by 70 percent in 2012 while the vacancy rate went up by 16 percent.
Spain
Home values decreased 9.3 percent from 2011 to 2012.
Even the esteemed vacation and second-home destination of Spain experienced a 23 percent drop in housing prices since its 2008 peak. Today, 90 percent of the approximately one million properties for sale in Spain are valued between 100,000-200,000 euros.
Ireland
Home values decreased 9.6 percent from 2011 to 2012.
Northern Ireland took one of the hardest housing market hits, with home values plummeting 19.5 percent in 2012. Apartment values decreased significantly in 2012 as well – by 22.7 percent.
Greece
Home values decreased 11.7 percent from 2011 to 2012.
Between July and September of 2012, newly-built houses dropped in value by 13.5 percent. Overall, new home purchases are down 80 percent in the past 5 years.
